iLOOKABOUT Announces Results of the Annual & Special Meeting of Shareholders and Grant of Deferred Share Units

Rhea-AI Summary

On September 25, 2020, iLOOKABOUT Corp. (OTCQB: ILATF) held its Annual & Special Meeting of Shareholders in London, Ontario. Shareholders approved several key motions, including:

• The election of nine directors for a one-year term.
• Re-appointment of KPMG LLP as the auditor with remuneration authorization.
• Re-approval of the Stock Option Plan.
• A special resolution to change the company name to ILA Corp., pending regulatory approval.

Additionally, 422,843 Deferred Share Units were credited to directors as per the approved plan.

Positive

• Approval of the election of nine experienced directors enhances governance.
• Re-appointment of KPMG LLP shows confidence in audit processes.
• Re-approval of the Stock Option Plan may incentivize and retain talent.
• Name change to ILA Corp. could improve brand recognition and market positioning.

Negative

• None.

TORONTO, Sept. 29, 2020 (GLOBE NEWSWIRE) -- iLOOKABOUT Corp. (TSXV:ILA; OTCQB:ILATF) (“ILA” or “the Company”) today announced the results of the Annual & Special Meeting of Shareholders (the "Meeting") held in London, Ontario on September 25, 2020. The shareholders approved the following motions put forth at the Meeting:

• Election of Allan Bezanson, John C. Drake, Jeff Hack, Peter Hyde, James Kelsey, Phillip Millar, Gerald C. Quinn, Gary Yeoman, and Jeff Young as Directors, each for a term of one year;
• Re-appointment of KPMG LLP as the Company's auditor and authorization for the directors to fix the auditors’ remuneration;
• Re-approval of the Company’s Stock Option Plan set out in Exhibit A of the Management Information Circular dated August 20, 2020; and
• Approval by way of a special resolution to change the name of the Company from “iLOOKABOUT Corp.” to “ILA Corp.”, subject to all necessary regulatory approvals.

The Company also confirmed that, in accordance with the Directors Deferred Share Unit Plan that was approved by the shareholders of iLOOKABOUT at its 2014 Annual and Special Meeting of Shareholders, the Company has credited Directors’ Deferred Share Unit Accounts with an aggregate of 422,843 Deferred Share Units in respect of their services to the Company from January 1, 2020 up to the Annual and Special Meeting of Shareholders held on September 25, 2020.

A complete copy of the Directors’ Deferred Share Unit Plan can be found as Exhibit B of the Company’s Management Information Circular for its Annual and Special Meeting of Shareholders held on September 25, 2020, a copy of which is available at www.sedar.com.

About ILA

ILA is a transformational data analytics organization that provides transparency to the valuation of real estate assets. ILA is a real estate valuation platform with technologies that leverage the power of data designed to address today's dynamic real estate valuation market. Our proprietary innovative platform provides software and data licenses and technology managed services to the real estate industry, serving primarily the property lending and property tax sectors, both public and private, in the United States (“US”) and Canada. Accurate data and property valuations form the basis for our clients to value assets, fund loans, securitize portfolios and to analyze and update property tax assessments. As a fully integrated valuation technology company, we are setting new standards in real estate valuation quality and reliability. ILA is a brand built on innovation, execution, accuracy, industry expertise and forward-looking products and services.

ILA’s common shares are traded on the TSX Venture Exchange under the symbol ILA and in the US on the OTCQB under the symbol ILATF.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FAQ

What were the key outcomes of iLOOKABOUT's Annual & Special Meeting on September 25, 2020?

Key outcomes included the election of nine directors, re-appointment of KPMG LLP as auditors, re-approval of the Stock Option Plan, and a proposed name change to ILA Corp.

What does the name change to ILA Corp. signify for ILATF shareholders?

The name change to ILA Corp. may enhance brand recognition and potentially improve investor confidence in the company's direction.

How many Deferred Share Units were credited to directors in 2020?

Directors were credited with an aggregate of 422,843 Deferred Share Units for their services from January 1, 2020, to the Annual Meeting.

Who is the auditor for iLOOKABOUT Corp. as of the latest meeting?

KPMG LLP was re-appointed as the auditor for iLOOKABOUT Corp. during the Annual & Special Meeting.

What is the stock symbol for iLOOKABOUT Corp. on the OTCQB?

The stock symbol for iLOOKABOUT Corp. on the OTCQB is ILATF.